Biggest mistakes i did

Discussion in 'Domain Beginners' started by Isac, Dec 3, 2017.

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  1. Isac

    Isac I choose Humanity Business Account

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    From April 2017 i started my domaining journey and i must admit i did few big mistakes :

    1. First one was rejecting an offer of $ 2500 on my LeLx.com domain.

    2. But the biggest mistake i did was rejecting a bitcoin for 2 word .org domain before few months , that i bought from here for $ 25.

    3. Try to be too greedy i lost many end users

    Now i want advice from you all, what's a best thing i should do. At that time because i have less knowledge about Bit coins, i rejected Bit coin.

    But i think there is something that i am lacking of which does'nt allowed me to sell those domain.

    Kindly Help

    Thanks
     
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  2. CrazyOldGoat

    CrazyOldGoat Established Member ★★★★★★★★★★

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    #1 could have been worse. When was that offer made?

    But yeah, #2 must kinda suck right now sorry haha
     
  3. Isac

    Isac I choose Humanity Business Account

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    First offer was also before few months. And i got lot of offers on this domain but $ 2500 was highest. It was also sold on Sedo but buyer failed to pay.

    Yes 2nd was is equivalent to crime
     
  4. BuyBrandWeb.com

    BuyBrandWeb.com Praveen C Business Account

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    For me, past is past. No regrets for whatever happened in past. Learn from past and implement in present and plan for future. It's a buyer desire, they'll come to you if they are really wanted!

    I lost few deals but happy to hold since someone has shown at least interest in it.
     
    Last edited: Dec 3, 2017
  5. Kate

    Kate Thinking inside the Box™ VIP ★★★★★★★★★★

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    Don't worry, you will make more mistakes in the future :)
    The best we can do is offset mistakes with success.
    Hindsight is 20/20.
    However, you're right when you're saying do not be greedy. The first offer received may be the last you'll ever get.
     
  6. jideofor

    jideofor Active Member VIP

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    I would say you allowed what you read on here to cloud your judgement. I know what it feels like when you see some x,xxx$ reported sales in 4 figures and so on. You allowed that to get into your head and greed was birthed.

    Now here is the reality, only a few persons command those high figures, except you a rich to buy premium domains.

    Just learn from your mistakes and move on. There are many more opportunity out there. Know when to take the money and move on.
     
  7. Isac

    Isac I choose Humanity Business Account

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    Yes the offer can be last offer
     
  8. HotKey

    HotKey Made in Canada VIP

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    Nothing lacking, it was a choice you made. :) The main thing is realizing perhaps it wasn't the best one. You'll get it next, or the time after. Soon you'll get to your comfort level of accepting/declining offers, and know that you were cool with your decision.

    Everyone's always looking for greener pastures, while forgetting that they might be standing in the greenest one of all.
     
  9. Silentptnr

    Silentptnr PRYCR.COM Business Account VIP

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    I dont think its something you are lacking. I think in your heart you felt you were not ready to sell it. And you just were not ready to get into bitcoin. Thats okay too.

    Just sounds like you slowed down and are a little worried. Hang in there. Accept your decisions and move forward in a positive way.

    Every time I pass on solid offers, part of me is glad and part of me wonders if I should have taken it. I just move on.

    More offers do come.
     
  10. Isac

    Isac I choose Humanity Business Account

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    After reading messages here, i think decision making is one of the important thing in domaining world. As well as learning about future trends.
     
  11. Silentptnr

    Silentptnr PRYCR.COM Business Account VIP

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  12. Loxline

    Loxline Established Member

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    1. bring back 1st avatar
    2. making money from money
    1x $2500, buy 200 .com's = 1x $10k (at least)
    3. move on
     
    Last edited: Dec 3, 2017
  13. Silentptnr

    Silentptnr PRYCR.COM Business Account VIP

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    Old avatar was cool.
     
  14. shorterwinters

    shorterwinters Established Member

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    True but, decision making is one of the most important things, period. In everything. For you. For me. For everyone. You have decided to ask advice and learn from the past.
    Great decision.
    Good luck.
    As Kate wisely said, don't worry, you will make more. Got to love it.
    I liked old avatar as well
     
    Last edited: Dec 3, 2017
  15. WatchDogue

    WatchDogue Active Member VIP

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    I did my version of this in the late '90s / early 2000s':

    " 3. Try to be too greedy i lost many end users"

    I had several substantial four figure cash-in-hand offers for names and held out for more - it is hard to know what is a " fair / reasonable " offer vs expecting " too much ".

    Time and trial and error ( and better access to comps ) help with pricing and sales / purchase prices.
     
  16. HotKey

    HotKey Made in Canada VIP

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    Exactly. The crux of domaining, but therein also lies the solution.
     
  17. xynames

    xynames Established Member

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    Exactly. You must decide if you’re going to accept all offers or wait for the right buyer.
     
  18. IMEZI

    IMEZI Active Member VIP

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    you got your lesson, that was great experience, better to experience it now with xxxx$ range than having it later on higher range
     
  19. Isac

    Isac I choose Humanity Business Account

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    I agree with you friends
     
  20. frank-germany

    frank-germany Business Member Business Account VIP

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    guess that s not the best advice here

    try to find who the buyer is and why they want the domain
    before you decide to accept or not

    nobody is ever going to bid their last price first
     
  21. korganian

    korganian Active Member VIP

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    Good to see a thread with realistic advice. There is no substitute for experience in this industry. Each domain is different and therefore there is no uniform set of rules that a novice can use as a shortcut from gaining experience. Things are also changing all the time, so what was true before is often not true anymore.

    Follow Kenny Rogers advice in his song "The Gambler". You have to know when to hold em and when to fold em. Only when you reach the confidence to pick out the domains to hold for top dollar, which ones to take any reasonable offer on and drop the rest, will you have any realistic chance of success in this business. IMHO.

     
  22. HotKey

    HotKey Made in Canada VIP

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    Funny, although I know the saying, I've never listened to the song. Just did, from start to finish- fantastic. Thanks for sharing, brother.
     
  23. ajenipa

    ajenipa Established Member

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    yeah domaining can be very funny
    if you accept the first offer , buyer would think he is paying too much and even ask for a lower offer
    if you shoot for the star , then one is prety greedy..if buyer walk away then you blame your self for asking too much
    my past experience
    buyer : how much
    me : 750
    buyer: 200
    me: 400
    OK don't want to be greedy.
    me : ok i accept your 200 offer
    buyer: ooh we are no more interested

    Recent experience
    buyer: cost?
    me: 950
    buyer: 250
    ( i really need some quick fund, let me accept this)
    me: i accept your 250 offer , lets move on
    buyer: i never meant to add zero..i mean 25
    just a day before yesteday i discovered the company has over 2M in funding
    . ..I don't think you made any mistake, just that the right buyer is yet to come
     
  24. frank-germany

    frank-germany Business Member Business Account VIP

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    me: 1400 usd
    buyer: 500 usd
    me:1100 usd
    buyer: no
    me: ok 500 usd
    Buyer: no more interested

    --


    buyer : 300 euro
    me : 1400 euro
    buyer: no more interested


    its easy to f*ck a deal



    buyer: 3000 euro
    me: no we don't want to sell
    buyer: maybe more ..
    ..
    after 1 year we agreed on 125 K USD


    its an art not a science
     
    Last edited: Dec 4, 2017
  25. BaileyUK

    BaileyUK Established Member

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    I take it you purchased on the secondary market. seeing the original reg of 2007. and by the way IMO it's probably good enough to attract another offer - it's certainly short and memorable enough.

    ps if you insert an 'E' as the second from last letter, I wonder if that was your enquirer ?
     
    Last edited: Dec 4, 2017

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